TITLE

East Asian Liberalization, Bubbles, and the Challenge from China

AUTHOR(S)
Yung Chul Park
PUB. DATE
December 1996
SOURCE
Brookings Papers on Economic Activity;1996, Issue 2, p357
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article analyzes the problems concerning the financial liberalization in East Asia and growing presence of China in the world trading system. The economic growth and integration of East Asia is largely the result of the sweeping economic, social and political changes that have taken place in the 1980s. Two developments stand out as the main driving forces. The first is the widespread acceptance of liberal economic policies that have accelerated the process of trade and financial liberalization. The second major development is China's entry into the world trading system. In recent years, however, there has been increasing indication, and hence concern, that unless there are concerted efforts at policy coordination and cooperation between East Asia, Europe, and North America, these two developments could very well blunt East Asia's dynamism and possibly could even derail the continued economic liberalization of the region.
ACCESSION #
9703183203

 

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